TrueCar Inc (TRUE) is Downgraded by Morgan Stanley to Underweight, Raises Price Target to $ 6.40

TrueCar Inc (TRUE) was Downgraded by Morgan Stanley to ” Underweight” according to the research note released today. The brokerage firm has raised the Price Target to $ 6.40 from a previous price target of $5 . Earlier the firm had a rating of “Equal-Weight ” on the company shares. Morgan Stanley advised their investors in a research report released on Sep 12, 2016.

Many Wall Street Analysts have commented on TrueCar Inc. Company shares were Downgraded by Morgan Stanley on Sep 12, 2016 to ” Underweight”, Firm has raised the Price Target to $ 6.40 from a previous price target of $5 .Loop Capital Initiated TrueCar Inc on Aug 11, 2016 to “Hold”, Price Target of the shares are set at $11.

On the company’s financial health, TrueCar Inc reported $-0.05 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.10. The company had revenue of $66.42 million for the quarter, compared to analysts expectations of $65.41 million. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.05 EPS.

TrueCar Inc closed down -0.12 points or -1.27% at $9.36 with 774,402 shares getting traded on Wednesday. Post opening the session at $9.53, the shares hit an intraday low of $9.26 and an intraday high of $9.68 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Aug 11, 2016, John Krafcik (director) sold 16,541 shares at $10.68 per share price. According to the SEC, on Mar 11, 2016, Christopher W Claus (director) purchased 5,000 shares at $5.70 per share price. On Nov 25, 2015, Bernard Brenner (EVP, Business Development) sold 15,000 shares at $8.77 per share price, according to the Form-4 filing with the securities and exchange commission.

TrueCar Inc. (TrueCar) is a data-driven online platform operating on a common technology infrastructure powered by data and analytics. The Company operates its Company-branded platform on its Website. In addition it customizes and operates its platform on a co-branded basis for its affinity group marketing partners including financial institutions such as USAA and American Express; membership-based organizations such as Consumer Reports AARP and AAA and employee buying programs for enterprises such as IBM and Walmart. The Company enables users to obtain market-based pricing data on new and used cars and to connect with its network of TrueCar Certified Dealers. It also allows automobile manufacturers known in the industry as original equipment manufacturers (OEMs) to connect with TrueCar users in the purchase process.

TrueCar Inc

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